England booked their place in the final with a 3-1 win over Italy ©Getty Images

England and Venezuela are both through to the final of the FIFA Under-20 World Cup for the first time ever after beating Italy and Uruguay in their respective last-four encounters in South Korea today.

Three second-half goals from England saw them come from behind to beat Italy 3-1 at the Jeonju World Cup Stadium, while Venezuela overcame South American rivals Uruguay 4-3 on penalties following a 1-1 draw at the Daejeon World Cup Stadium.

The final is scheduled to take place on Sunday (June 11) at the Suwon World Cup Stadium.

The venue will also play host to the third-place play-off between Uruguay and Italy earlier in the day.

Italy had taken the lead within the first two minutes of their match against England, courtesy of Riccardo Orsolini’s clinical finish from an assist by strike partner Andrea Favilli.

The goal was Orsolini's fifth of the tournament and moved him to the top of the golden boot list.

England failed to find an equaliser before half-time despite a series of attacks through Dominic Solanke and Kieran Dowell.

But their persistence paid off in the 66th minute as Solanke calmly slotted home after Italy goalkeeper Andrea Zaccagno parried Sheyi Ojo's cross into his path.

Eleven minutes later, Ademola Lookman fired in what proved to be the winning goal from close range for his third of the tournament.

Solanke then scored his second goal, and fourth of the tournament, with a long-range shot that evaded the outstretched arms of Zaccagno and sealed a famous victory.

Wuilker Farinez's heroics ensured Venezuela a place in the final ©Getty Images
Wuilker Farinez's heroics ensured Venezuela a place in the final ©Getty Images

Awaiting England in the final are Venezuela, who secured their penalty shoot-out win over Uruguay after goalkeeper Wuilker Farinez saved Nicolas De La Cruz’s effort.

Both sides had already seen an effort missed when De La Cruz stepped up and his failure to convert proved to be decisive.

The Uruguay captain had earlier put his team into the lead from the spot, scoring in the 49th minute after Agustin Canobbio had been brought down in the box.

It should have been two moments later, but a stunning save by Farinez denied Nicolas Schiappacasse from point-blank range.

Venezuela’s Sergio Cordova wasted a great chance to head in his fifth goal of the tournament, but substitute Samuel Sosa saved the day in injury-time by firing home a 25-yard free-kick to take the game into extra-time.

Yeferson Soteldo and Cordova both tested Uruguay goalkeeper Santiago Mele in the additional period, before Farinez had to throw out a leg to deny Federico Valverde from audaciously scoring direct from a corner.

He was forced to superbly deny the Real Madrid man again, this time from a free-kick, before substitute Jan Hurtado nearly won it for Venezuela only to hit the post.

It did not matter in the end, however, with the Venezuelans edging their way to success in the penalty shoot-out.